Press Room

Monex Canada outpaces growth expectations in its first year

Monex Canada, a leading specialist in commercial foreign exchange (FX), celebrates its one-year anniversary in North America, having significantly outpaced growth expectations in its first year.

Meeting the strong, local demand for an alternative FX provider, the company completed 2,000 trades equalling more than $3 billion in sales, quickly establishing the Canadian branch as a market leader with its focus on personalised and proactive service.

The rapid growth of our Toronto office is a testament to the good work we’re doing and the demand that’s driving it. We’re offering Canadian clients something strategically different when it comes to customer service and there is a big opportunity for us to continue to develop our market share here in North America.

– Michael Deegan, Head of Sales at Monex Canada.

Monex Canada, the North American subsidiary of Monex Europe, has grown its headcount by 142 per cent in 12 short months, solidifying its strategic value to Canadian clients.

Across the group, Monex executed more than 4.9 million in annual FX transactions and held $5.2 billion in total assets as of 2017. Monex is consistently ranked at the top of FX forecasting tables such as Thomson Reuters FX polls and Bloomberg’s FX forecast accuracy ratings. Globally, the company is recognized as one of the most accurate currency forecasters.

The growth we’ve seen in the Canadian office is reflective of the opportunity we saw when we made the decision to expand our presence in North America. With increasingly volatile markets, the efficient and savvy execution that Monex Canada brings to its client service has been and will continue to be a key driver for its success in the years ahead.